In the case of unearned revenue, the cash is received first, and the revenue is earned later.
举一反三
- In the case of unearned revenue, the adjusting entry at the end of the period includes a credit to Service Revenue. Assume the unearned revenue is initially recorded as a liability.
- Unearned revenue is reported in the financial statements as: A: A revenue on the balance sheet. B: A liability on the balance sheet. C: An unearned revenue on the income statement. D: An asset on the balance sheet. E: An operating activity on the statement of cash flows.
- Unearned revenue is a revenue account.
- Unearned Service Revenue is a revenue account.
- Unearned revenue is a revenue account. A: 正确 B: 错误